Below are the entries in a Saving Bank Passbook-begin array- c-c-c-c-c-Whine Date Particulars Withdrawal Deposit Balancell-hline01-01-07 B - f Rs-14000llihline01-02-07 By cash Rs-11500 Rs-25500llihline 12-02-07 To cheque Rs5000 Rs-20500Nthline05-04-07 By - cash Rs-3750 Rs-24250llhline09-05-07 By - cash Rs-1500 Rs-2150011-hline array Find the interest for six months from January to June at 4 - per annum on the minimum balance on or after the tenth day of each month-A- Rs- 478-89B- Rs- 398-33C- Rs- 400-90D- Rs- 599-33

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Question

Below are the entries in a Saving Bank Passbook:

$\begin{matrix} D a t e & P a r t i c u l a r s & W i t h d r a w a l & D e p o s i t & B a l a n c e 01 - 01 - 07 & B / f & R s .14000 01 - 02 - 07 & B y c a s h & R s .11500 & R s .25500 12 - 02 - 07 & T o c h e q u e & R s 5000 & R s .20500 05 - 04 - 07 & B y c a s h & R s .3750 & R s .24250 15 - 04 - 07 & T o c h e q u e & R s .4250 & R s .20000 09 - 05 - 07 & B y c a s h & R s .1500 & R s .21500 04 - 06 - 07 & B y c a s h & R s .1500 . & R s .23000 \end{matrix}$

Find the interest for six months (from January to June) at 4% per annum on the minimum balance on or after the tenth day of each month.

Rs. 478.89

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Rs. 398.33

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Rs. 400.90

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Rs. 599.33

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Solution

The correct option is B
Rs. 398.33

We have the following entries according to the details given:

$\begin{matrix} Month & Balance of the month & Minimum balance between 10th to the last day of the month & Qualifying Balance J a n u a r y & R s .14000 & R s .14000 & R s .14000 F e b r u a r y & R s .25500, R s .20500 & R s .20500 & R s .20500 M a r c h & R s .20500 & R s .20500 & R s .20500 A p r i l & R s .20500, R s .24250, R s .20000 & R s .20000 & R s .20000 M a y & R s .20000, R s .21500 & R s .21500 & R s .21500 J u n e & R s .21500, R s .23000 & R s .23000 & R s .23000 T o t a l & R s .119500 \end{matrix}$

Here, principal for 1 month = Rs.119500, rate of interest = 4%, time = $\frac{1}{12}$ year

Interest = Rs. $\frac{(119500 \times 4 \times \frac{1}{12})}{100}$ = Rs.398.33

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Similar questions

The entries of a savings bank account are given below:

$\begin{matrix} D a t e & P a r t i c u l a r s & W i t h d r a w a l s (i n R s .) & D e p o s i t s (i n R s .) & B a l a n c e (i n R s .) 01.01.03 & B / F & - & - & 14000 01.02.03 & B y C a s h & - & 11500 & 25500 12.02.03 & B y C h e q u e & 5000 & - & 20500 05.04.03 & B y C a s h & - & 3750 & 24250 15.04.03 & B y C h e q u e & 4250 & - & 20000 09.05.03 & B y C a s h & - & 1500 & 21500 04.06.03 & B y c a s h & - & 1500 & 23000 \end{matrix}$

Find the interest for six months (that is from January to June) at 8% per annum on the minimum balance on or after the tenth of every month.

Riya has an account with a bank. Following are the entries from her pass-book:

$\begin{matrix} D a t e & P a r t i c u l a r s & W i t h d r a w a l s R s . p . & D e p o s i t s R s . p . & B a l a n c e R s . P . 08 - 02 - 08 & B / F & - & - & 8500.00 18 - 02 - 08 & T o s e l f & 4000.00 & - & - 12 - 04 - 08 & B y C a s h & - & 2238.00 & - 15 - 06 - 08 & T o s e l f & 5000.00 & - & - 08 - 07 - 08 & B y c a s h & - & 6000.00 & - \end{matrix}$

Compute the page of her pass book and therefore calculate the interest for six months, which is from the month of February to July 2008 at 4.5% per annum.

Calculate the interest for six months (January to June) at

4 %

per annum on the minimum balance on or after the tenth day of each month.

The entries in a Saving Bank Passbook are as given below:

Date	Particulars	Withdrawals (In Rs.)	Deposits (In Rs.)	Balance (In Rs.)
$01.01.03$	B/F			$14, 000.00$
$01.02.03$	By Cash		$11, 500.00$	$25, 500.00$
$12.02.03$	To Cheque	$5, 000$		$20, 500.00$
$05.04.03$	By Cash		$3, 7500.00$	$24, 500.00$
$15.04.03$	To Cheque	$4, 250.00$		$20, 000.00$
$09.05.03$	By Cash		$1, 500$	$21, 500.00$
$04.06.03$	By Cash		$1, 500$	$23, 000.00$

Mr. Tiwari has a saving account in some bank. Following are the entries of his passbook:

$\begin{matrix} D a t e y e a r 2007 & P a r t i c u l a r s & W i t h d r a w a l s R s . P & D e p o s i t e R s . P & B a l a n c e R s . p J a n u a r y & B / F & 1276.38 J a n u a r y & B y c h e q u e & 2307.25 & 3583.63 M a r c h 07 & T o s e l f & 2000.00 & 1583.63 M a r c h 25 & B y c a s h & 6200.00 & 7783.63 J u n e 10 & T o c h e q u e & 4500.00 & 3283.63 J u l y 16 & B y c l e a r i n g & 2628.70 & 5912.33 O c t o b e r 20 & T o c h e q u e & 524.50 & 5387.83 O c t o b e r 25 & T o s e l f & 2700.00 & 2687.83 N o v e m b e r 5 & B y c a s h & 1500.00 & 4187.83 D e c e m b e r 3 & T o c h e q u e & 1000.00 & 3187.83 D e c e m b e r 25 & B y t r a n s f e r & 2927.50 & 6115.33 \end{matrix}$

What will be the interest due to him for the year 2007 at 4.5% per annum if the interest is paid once in a year at the end of December? Also, find the total amount that he will receive on 11th January, 2008, if he plans to close his account.

A page from a pass book of saving bank account is given below:

The account is closed on 2nd January 2000. Find the amount received if the rate of interest is 5%.

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